Copper futures settled in green on Tuesday as investors enlarged positions, even after China reiterated its commitment to maintain strict covid-related restrictions for controlling coronavirus outbreaks. Moreover, supply worries and a weaker US dollar also supported copper prices’ uptrend. Meanwhile, investors will be focusing on US CPI inflation data due this week for more cues on how the US economy is handling price pressures.
Copper futures for December delivery gained $0.0790 to settle at $3.6825 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 2.54 percent at $8,115.50 a ton.